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(1)A person is guilty of an offence if he is knowingly a party to the carrying on of a business to which this section applies.
(2)This section applies to a business which is carried on—
(b)with intent to defraud creditors of any person or for any other fraudulent purpose.
(a)a company [F3(as defined in section 1(1) of the Companies Act 2006)];
(b)a person to whom that section applies (with or without adaptations or modifications) as if the person were a company;
(c)a person exempted from the application of that section.
(4)F4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(6)A person guilty of an offence under this section is liable—
(a)on summary conviction, to imprisonment for a term not exceeding 12 months or to a fine not exceeding the statutory maximum (or to both);
(b)on conviction on indictment, to imprisonment for a term not exceeding 10 years or to a fine (or to both).
(7)Subsection (6)(a) applies in relation to Northern Ireland as if the reference to 12 months were a reference to 6 months.
Geographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.
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Text created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Public Acts except Appropriation, Consolidated Fund, Finance and Consolidation Acts.
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